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Beyond the state of the economy, the problem is that in many markets, houses still cost too much. Housing consultancy Zelman & Associates compared what houses cost with how much people earn and found plenty of markets - including Seattle; Miami; Norfolk, Va.; Philadelphia; Los Angeles; and Salt Lake City - where homes would have to shed at least 30% more in value to get back to being as affordable as they have been historically...
...Writing about the possible effect of the $825 billion federal program, The Los Angeles Times reports that "The House bill, which is likely to be voted on next week, would bring the state more than $11 billion in health care and education money that could go directly to reducing the deficit through mid-2010." Additional funds would come into the state for building highways and other transportation infrastructure...
...editor in chief. But longtime Playboy Enterprises Inc. CEO and even longer time Hef daughter Christie Hefner will step down at the end of January, so change is inevitable. And Playboy Enterprises Inc. stock has been vulgar, dropping 90% in a year. The company has an entertainment arm in Los Angeles and licenses its name and bunny logo to anyone who'll pay, including a wine company in 2008, but is said to make most of its money from its less well-known, more hard-core enterprises such as Spice TV and Clubjenna.com, named for porn star Jenna Jameson...
...hopeful note, Los Angeles' Playboy Mansion, Shangri-la for so many 22-year-old males, seems safe for now. As one staffer puts it, "I can't imagine a scenario in which the mansion does not survive...
...bedroom apartment dropping 2.5% in the last three months of 2008, compared with a year before. PPR's one-year forecast show rents dropping in 39 of its 54 markets, sometimes by large amounts - down 2.7% in Memphis, Tenn.; 3.7% in Charlotte, N.C.; 5.2% in Atlanta and 5.9% in Los Angeles. But other cities, like Seattle, Baltimore and St. Louis, Mo., are due for higher rents. (See a list of the top five movers in each direction...